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ADNOC DH3.16BN CONSTRUCTION DEAL

Adnoc LNG signed the EPC deal with a consortium of Spain’s Tecnicas Reunidas and Abu Dhabi’s Target Engineering Construction

Adnoc LNG, a subsidiary of Abu Dhabi National Oil Company, awarded a Dh3.16 billion ($860m) engineering, procurement and construction (EPC) contract to a joint venture of Spanish and UAE companies as the unit moves ahead with developing the second phase of its Integrated Gas Development Expansion (IGD-E) project.

Adnoc LNG signed the engineering, procurement and construction contract with Spain’s Tecnicas Reunidas and Abu Dhabi’s Target Engineering Construction, it said in a statement on Wednesday. Around half of the contract’s value will flow into the local economy in line with Adnoc’s mission to capture financial returns for the UAE, it said.